In the area 2 – George

George property market reviving

A revival of George’s property market appears imminent with activity picking up steadily in the popular Garden Route town.

So says Pieter van Rensburg, principal of the local Chas Everitt International franchise, who notes that the local market is “far from dead even now” and that the town is ready for the upswing which he predicts will occur at the beginning of 2010.

Properties are currently selling across the board from R550 000 all the way up to R12m with cash buyers in the majority, he says. Top performing areas include Blanco, Fancourt, George East, Denneoord, Glen Barry, Heather Park and Glentana. Properties in these areas vary from basic two bedroom flats in need of some TLC to luxurious mansions.

Meanwhile, signs of a revival are also manifesting on the development front, he says.

“Projects which were previously shelved are now going ahead. Among these are two blocks of flats to be constructed in central George. The Blue Mountains retirement village has also been completed recently and a number of other residential developments are set to break ground soon.

“Somewhat controversially, given George’s water shortages, the Lagoon Bay Golf Estate earmarked for Glentana has also been given the go-ahead.”

Van Rensburg attributes this surge in activity to lower interest rates, improved buyer sentiment and the fact that George remains inherently appealing to buyers of all backgrounds.

“George enjoys a low crime rate, offers a very appealing lifestyle and has all the necessary infrastructure in place. The Karoo, forest and sea are within easy reach of the town and many buyers are opting to live here and commute to Johannesburg or Pretoria every second week rather than live full-time in one of these busy metropoles.

“Families also move here to be close to the many excellent schools in the area and professionals live here so as to escape the rat race. Tourists are also making a comeback and that is giving rise to further property sales.”

Article by: www.chaseveritt.com